Lucky Block Price Forecast: Lblock Makes Retracement on Bullish Run

Updated:

Lucky Block Price Forecast: May 11

The Lucky Block price forecast is bullish as the larger Moving Averages period eighty-nine and period two hundred are seen to support the ascending market.


LBLOCK/USD Long-Term Trend: Bullish (30-Minute Chart)

Key Levels:
Supply Zones: $0.0013400, $0.0013000, $0.0012400
Demand Zones: $0.0009980, $0.0011000, $0.0011800
Lucky Block Price Forecast: Lblock Makes Retracement on Bullish RunLBLOCK/USD experienced a change in the state of market delivery on the 9th of May. The Parabolic Stop and Reverse (SAR) indicator was prompt to signify the reversal on May 9th, 2022. The price bounced off the demand zone at $0.0009980. The Moving Averages periods nine and twenty-one gave the early signs of the market reversal in the demand zone. The cross of the Moving Averages gave further confirmation after the Parabolic SAR made multiple points.


Lucky Block Price Forecast: LBLOCK/USD Market Reversal Anticipation

On the 10th of May, the Moving Averages periods nine and twenty-one crossed the higher Moving Averages. At this point, the market was bullish both on the thirty-minute timeframe and the five-minute time frame.

LBlock reached the resistance zone at $0.0013400. As a result, the market reversed its course.

The lower periods of the Moving Averages (period nine and twenty-one) crossed at the resistance zones to show the retracement. The higher periods of the Moving Averages (periods eighty-nine and twenty-one) are still resting beneath the candles to show that the market is still overall bullish.


LBLOCK/USD Medium-Term Trend: Bullish (5-minute chart)

LBlock is currently reacting at the $0.001240 key zone. An order block has formed at the major level, which appears to be pushing the price higher.
Lucky Block Price Forecast: Lblock Makes Retracement on Bullish RunThe previous resistance is expected to turn into support for the bulls to continue the bullish trend. The market is expected to push through the next resistance zone at $0.001300.

How To Buy Lucky Block 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.